RBC Capital Increases Brixmor Property Group Price Target to $24.00 (BRX)
Analysts at RBC Capital lifted their price objective on shares of Brixmor Property Group (NYSE:BRX) from $22.00 to $24.00 in a research report issued to clients and investors on Monday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target points to a potential upside of 2.74% from the company’s current price.
In other Brixmor Property Group news, major shareholder Group L.P. Blackstone unloaded 34,442,500 shares of the stock on the open market in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $21.77, for a total transaction of $749,813,225.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Brixmor Property Group (NYSE:BRX) traded up 0.69% during mid-day trading on Monday, hitting $23.36. 1,762,490 shares of the company’s stock traded hands. Brixmor Property Group has a 52-week low of $19.38 and a 52-week high of $23.45. The stock’s 50-day moving average is $22.26 and its 200-day moving average is $21.47.
Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $0.38. The company had revenue of $307.69 million for the quarter, compared to the consensus estimate of $305.67 million. During the same quarter last year, the company posted $0.40 earnings per share. Brixmor Property Group’s revenue was up 3.5% compared to the same quarter last year. Analysts expect that Brixmor Property Group will post $0.37 EPS for the current fiscal year.
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